Morgan Stanley targets $10 trillion in AUM: Gorman
The wirehouse reported new records for net new assets of $105 billion, up 43% from the end of December and an increase of 183% from the same period a year earlier. My target is $10 trillion of money under management, said CEO James Gorman. I ve told the team internally, they hate that.
April 16, 2021
Fresh off a record quarter in wealth management and the completed acquisitions of Eaton Vance and ETrade Financial Corp., Morgan Stanley’s CEO James Gorman was particularly ebullient about the firm’s future Friday morning during an earnings call with analysts.
Morgan Stanley would at some point in the future amass $10 trillion in client assets, he said, or a bit less than double the $5.6 trillion it currently has under its expanding wealth management and investment management business lines.
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